Press Releases

Period End Trading Update

30th January 2008

Manganese Bronze Holdings PLC, the leading manufacturer of the distinctive London taxi, is releasing this regular trading update covering the final five months of 2007. The Group will report its results for the extended 17 month financial year ended 31st December 2007 on April 16th 2008.

Manganese Bronze is pleased to report that its results for the five months continued in line with expectations. Sales volumes were maintained at similar levels to the equivalent period of 2006 even though sales were abnormally high that year due to the dual effects of the run out of the TXII model and the initial launch surge of our new vehicle, the TX4. The driver appeal of the TX4 continued to create sales opportunities throughout the UK and in particular has resulted in an improvement in the Company’s market share outside London.

The key focus for the Group in 2008 is to deliver on the operational milestones of our Chinese joint venture, Shanghai LTI (SLTI) whilst ensuring continued good progress, in terms of both sales and profitability, of the current UK business.

Prototype production of the first Chinese built TX4 is scheduled for mid 2008 as planned. This will be followed by a series of quality maturation builds leading to production for sales in world markets outside the UK scheduled towards the end of 2008. The engineering, manufacturing and supplier development actions are proceeding according to plan and the intensity of these efforts will increase as the sales launch approaches. The primary aim of these actions is to deliver the targeted cost and quality objectives set for the project.

To complement the focus on delivering the Chinese built TX4, it is anticipated that an equivalent effort will be applied in 2008 to establish the international sales and marketing capability required to deliver the Group’s planned sales and profit margin. The market studies conducted in 2007 have identified that significant international market opportunities exist which support our overseas sales ambitions and in 2008 prospecting of markets and finalisation of sales and distribution agreements is the priority. It is our intention to conclude such agreements in advance of the commencement of production and it is the Board’s intention to provide relevant updates to shareholders of our progress at appropriate times during 2008.

The Board is confident of the Group’s prospects for 2008. We believe that the continuing appeal of the TX4, the effect of the EURO 3 regulations change in London in mid 2008 and the strength of the demand for TX4 outside London will all have positive impacts in 2008. We will also continue to make good progress in achieving the strategic milestones of the joint venture in China and the development of our international business.

John Russell, Chief Executive, said:

“The continued strong performance of the TX4 will ensure that Manganese Bronze’s results are in line with expectations. Our Chinese joint venture is well on track to produce its first prototypes in mid 2008 and production for sales at the end of the year.”

For further information, please contact:

Manganese Bronze Holdings plc - John Russell, Group Chief Executive/Mark Fryer, Group Finance and Business Development Director Tel: 02476 572000

Financial Dynamics - Jon Simmons Tel: 020 7831 3113

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